Are Entry-Level Jobs Becoming Obsolete? Wall Street Says Yes.
A headline on LinkedIn recently caught my eye: The Worst Part of a Wall Street Career May Be Coming to an End. The article suggests that artificial intelligence is about to take away much of the grunt work that used to be a “right of passage” for entry-level workers in the finance industry:
“The jobs most immediately at risk are those performed by analysts at the bottom rung of the investment banking business, who put in endless hours to learn the building blocks of corporate finance, including the intricacies of mergers, public offerings and bond deals. Now, A.I. can do much of that work speedily and with considerably less whining.”
It’s no surprise that artificial intelligence is already beginning to eliminate jobs. According to the International Monetary Fund, globally, around 40% of jobs could disappear by the end of the decade.
In the interim, the jobs most at risk are those that require complex decision-making skills — like roles held by executives and mid-management — and jobs that consist of standardized, routine work — like entry-level financial analysts. A good rule of thumb to follow: if a computer can be taught to do a job or a task, that job is now at risk.
While the piece in The New York Times insinuates financial analysts will be alleviated of the…
